Mar Vista Investment Partners, LLC, an investment management company, released the “Mar Vista Global Quality Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. As investors welcomed reduced interest rates and inflation in developed economies, the global stock market rose in 2024. The MSCI World Net Index increased 18.7% for the year, finishing an incredible two-year run with a 47% total return and its second straight annual gain above 15%. In the fourth quarter, the strategy returned -3.31% net-of-fees compared to -0.16% and -0.99% returns for the MSCI World Net Index and the MSCI All Country World Net Index, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2024.

In its fourth quarter 2024 investor letter, Mar Vista Global Quality Strategy emphasized stocks such as Roper Technologies, Inc. (NASDAQ:ROP). Roper Technologies, Inc. (NASDAQ:ROP) designs and develops software, and technology enabled products and solutions. The one-month return of Roper Technologies, Inc. (NASDAQ:ROP) was 6.04%, and its shares gained 4.77% of their value over the last 52 weeks. On February 21, 2025, Roper Technologies, Inc. (NASDAQ:ROP) stock closed at $574.05 per share with a market capitalization of $61.55 billion.

Mar Vista Global Quality Strategy stated the following regarding Roper Technologies, Inc. (NASDAQ:ROP) in its Q4 2024 investor letter:

"Our longstanding investment in Roper Technologies, Inc. (NASDAQ:ROP) delivered results in line with our expectations. As the stock traded near our estimated intrinsic value, we chose to exit the position and reallocate the proceeds to other opportunities within the portfolio."

A software company's engineer staring at a computer monitor with intense concentration.

Roper Technologies, Inc. (NASDAQ:ROP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Roper Technologies, Inc. (NASDAQ:ROP) at the end of the fourth quarter compared to 40 in the third quarter. While we acknowledge the potential of Roper Technologies, Inc. (NASDAQ:ROP) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article we discussed Roper Technologies, Inc. (NASDAQ:ROP) and shared stock picks of billionaire Dan Loeb. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.